We still want the Olympic Stadium, say West Ham

West Ham have vowed to press on with their bid to move to the Olympic Stadium despite today's collapse of their original deal with the Olympic Park Legacy Company.

The OPLC have pulled the plug on negotiations amid fears that legal challenges and disputes would remain unresolved and leave the stadium empty long after the 2012 Games finished.

The news means the stadium will stay in public ownership and a running track will remain.

West Ham vice-chair Karren Brady, who has spearheaded the club's bid to move to Stratford, said: "Our bid is the only one that will secure the sporting and community legacy promise of the Olympic Stadium."

In a joint statement with Kim Bromley-Derry, chief executive of Newham Council, Brady added: "We would welcome a move by the OPLC and the Government to end that uncertainty and allow a football and athletics stadium to be in place by 2014 under a new process."

London Mayor Boris Johnson today said he hoped West Ham would become tenants at the stadium.

He said: "I am confident that this decision is the best way to ensure we have certainty over the stadium's future. We will keep it in public hands but we will effectively rent it to a football club, almost certainly West Ham, and that will cover the costs.

"I think it will be a very good deal for the taxpayer."

West Ham's original plan was to spend around £90million on converting the stadium to a 60,000-capacity football venue but keeping the running track, with the help of a £40m loan from Newham Council.

The new plan would mean West Ham, if successful in the bidding process which is scheduled to start next January, would pay an annual rent, thought to be around £2m, with the OPLC spending £50m on transforming the stadium after the Games.

Naming rights would need to be negotiated with the OPLC as would any redevelopment schemes for executive boxes, lounges and food outlets.

Legal challenges by Tottenham, who wanted to build a new venue without a running track, Leyton Orient plus an anonymous complaint to the European Commission, appear to have led to today's news.

The OPLC made their decision following discussions with the Mayor of London and the Government, which made its stance clear through a statement issued by the Department for Culture, Media and Sport. "The Government and Mayor of London have decided to end the current process to dispose of the Olympic Stadium, which has become bogged down in a number of legal and other challenges," read the DCMS statement.

"The stadium will now be retained as a public asset and the Olympic Park Legacy Company has been asked to start a new process to secure tenants for the stadium."

Tottenham issued a statement welcoming the decision but did not confirm whether they are now interested in becoming tenants of the Olympic Stadium.

"Whoever moves in, if it's not us we will continue to object unless some consideration is given to Leyton Orient's position.

"It's a hugely complicated scenario, the costs involved, the conversion costs etc. We're stuck with a stadium that has been badly designed and we have to work around it.

"Ideally, it will be rebuilt into a 25,000 all-seater with Leyton Orient there and a stadium for the whole community."

UK Athletics chief Ed Warner said the decision was good news as it would end the uncertainty which has surrounded recent negotiations and boost Britain's bid to host the 2017 World Athletics Championships.

"It guarantees the athletics legacy pledged as part of our Olympic bid," said Warner.

"The legacy company has acted swiftly and smartly in reaction to the challenges that Tottenham Hotspur have posed in recent weeks and months and they are going to get a positive result."

"I've spoken to West Ham already this morning and I do expect them to put a bid in.

"If they turn out to be the tenant we work alongside I think they will be great partners."